NYC Named America's Richest City With Over 650,000 Millionaires

by Jared Paul Stern (RSS feed)
Aug 4th 2010 at 7:01PM

New York has been named America's richest city with a record 667,000 high-net worth individuals, or people with $1 million or more in investible assets, recorded as living there in 2009. The figure, 18.7% higher than in 2008, comes from the new Metro Wealth Index created by consulting firm Capgemini, the Wall St. Journal reports. New York not only topped the list but demolished the competition, with a sum greater than the total of the next three runners up combined – Los Angeles, Chicago and Washington. The number of millionaires in New York City – some of whom are of course billionaires – is now greater than the entire population of Boston. While growth is up across the board over 2008, only New York, D.C. (#4), Houston (#9) and San Jose (#10) are now above their 2007 or pre-recession levels, with the rest still languishing behind.

Here are the full tallies of millionaires for the top 10, along with the percentage growth:

New York – 667,200, +18.7%
Los Angeles – 235,800, +13.3%
Chicago – 198,100, +15.1%
Washington, D.C. – 152,400 +19.3%
San Francisco – 138,300 +14.5%
Philadelphia – 104,100, +20.1%
Boston – 102,300, +14.4%
Detroit – 89,100, +12.1%
Houston –- 88,200, +28.9%
San Jose - 86,500, +24.5%

Tags: Boston, Chicago, Detroit, Houston, Los Angeles, millionaires, New York, Philadelphia, San Francisco, San Jose, Washington, wealth

Filed under: Wealth

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Reader Comments (Page 1 of 1)

ADMR Aug 5th 2010 8:42AM

EMPIRE STATE Of MIND - 107.3 (-:

lsvllronald5 Aug 5th 2010 9:15AM

Now I know how the decision to built Trump Tower was made, marketing research showed that there was a demand for luxury apartments and that there were people who could and would pay the money for a development of that scale. Still, 667,000 high net individuals with $1 million or more in investible assets is nothing short of astounding. I should have studied finance instead of fine art while studying in New York in the late 1970's.

blueeyeslpn Aug 5th 2010 9:51AM

I think this is funny. All those millioniares yet unemployment rates are still high and our country
is broke. Go figure.

T Aug 5th 2010 1:07PM

I agree with blueeyeslpn. It is almost unbelievable that with so many people still out of work, school closings due to lack of funds, and a completely screwed up transportation system, that this is possible. It makes me sick!!! as my mother always said "the rich get richer as the poor get poorer" Aah the American way of life:)

pfferroli Aug 5th 2010 11:41AM

Wow that's incredible....we all need to plug into that wavelength.

Jerseyguy Aug 5th 2010 1:38PM

I believe those figures are slightly inaccurate, Rush Limbo moved out........LOL

BHarrison Aug 16th 2010 1:52PM

Well, that leaves little doubt as to where a lot of the money that came out of the blatant frauds by the financial institutions, and the Wall Street "insiders" went to, huh?

But then, we always knew that NYC was a hometown to many serious criminals, such as Madoff and others. Right?

winnstones Aug 6th 2010 12:12PM

$1,000,000 net worth is just not that much money anymore

yan Aug 6th 2010 1:13PM

money make money is easy,your first bucket of gold is most difficult to get,need talent,luck,guts,right timing....

jim from ny Aug 16th 2010 12:46AM

It's not ! million in net worth it's investable assets. All you people out there eating cheerios for dinner or feeding your kids fast food garbage, wake up. You've been screwed. Do you really think these millionaires worked for the money they have? The system is set up to screw 95 percent of people while 5 percent have more money than they'll ever need. The only way to rectify the problem is take it away by any means nessessary. Tax them to death to create a more fair system.? That will never happen, they have a strangehold on elected officials and this corrupt government.